SpyLoaded Forum






News



Post reply

Note: this post will not display until it's been approved by a moderator.

Name:
Email:
Subject:
Message icon:
Verification:
"5 eggs" Multiply By "4 eggs" Is what ?:

shortcuts: hit alt+s to submit/post or alt+p to preview


Topic Summary

Posted by: Miss Ifeoluwa
« on: October 06, 2024, 06:20:37 PM »



Thors/Osun Tax Dispute: Governor Adeleke Welcomes Federal Interventions, Clarifies Osun government position

Governor Ademola Adeleke has welcomed the intervention of the Federal Ministry of Mines on the state's tax disputes with Thors Explorations Limited, clarifying that the state has validated claims within the context of the Constitution and extant laws.

The Governor who had earlier reached out to the Minister of Mines, Dele Alake on phone said the state supports all efforts to drive Foreign Direct Investment into Nigeria but said investors have a duty to be transparent, obey local laws and protect the environment from degradation.

Explaining that the state government had opened discussions and negotiations with Thors Exploration since 2023 without any results, the Governor said Segilola Resources Operating Limited has an accumulated tax liabilities of N3.25 Billion with a Demand Notice issued in April, 2024.


The Governor who said Osun has the legal rights to collect tax liability also noted that Thors Explorations was operating six other companies on the site without disclosure to the state government for tax and environmental accountability purposes.

He listed the companies as follows; SINIC Engineering Limited, ATF Consulting Limited, Monument Nigeria Limited, Rabaa Cleaning Limited, Deep Rock Drilling Services and CEFO Security Limited


The Governor submitted further that Thor Exploration Limited confirmed that Osun has Five Million, One Hundred and Ninety Two Thousand, Eight Hundred and Ninety Six units of shares of Thor Exploration, United Kingdom, insisting that Osun is entitled to collect financial implications to date as a shareholder.

While lamenting the extensive environmental degradation occasioned by Thors’ mining activities in Osun state, Governor Adeleke said the company has a duty to pay for environmental reclamation even as the environment is on the concurrent legislative list.

“Osun state has a robust partnership with the Federal Ministry of Mines. Our state has several mining licenses. So we are critical stakeholders with a deep understanding of the laws and the constitution. Our action is to get what is due to our state as affirmed by extant laws and practices.

“We have a robust ease of doing business environment and we have several investors in various sectors of our state economy. We are only opposed to lack of transparency and accountability in the operation of the mining sector. Local laws must be respected and obeyed as is the practice in Europe and North America and the environment must be reclaimed.

“So we look forward to receiving the Federal fact finding team. We have prepared our position. Thors cannot hide under mining being on exclusive legislative list to avoid local tax, deny shareholders their rights and violate our environment with impunity”, the Governor was quoted as saying.
Osun to Reopen Schools on September 21

Started by Miss Ifeoluwa

 Replies: 0
Views: 2624
Five Osun Secondary School Students Arraigned For Stabbing Colleague With Axe

Started by Rajih

 Replies: 0
Views: 2518
Federal Poly Offa Expels Student Convicted Of Internet Fraud

Started by Miss Ifeoluwa

 Replies: 0
Views: 2026
COVID-19: Osun schools no longer resuming January 4 - Govt

Started by Miss Ifeoluwa

 Replies: 0
Views: 1561
Osun Govt Order Schools to Reopen On January 18

Started by Miss Ifeoluwa

 Replies: 0
Views: 1766

* Recent Topics

Close
SimplePortal 2.3.6 © 2008-2014, SimplePortal